Verkhovna Rada may allow privatization of 13 seaports

KYIV (QHA) -

The Cabinet of Ministers of Ukraine recommended Verkhovna Rada to exclude 13 seaports, not subject to privatization, from the list of state property objects. The government believes that such a decision will attract business partners and investments to Ukraine.

The extract from explanatory note related to Bill No. 2488 of August 10, 2015 cited below:

“It is recommended to exclude the following enterprises from the list of maritime transport: the Ukrainian Danube Shipping Company, the Black Sea-Azov Production and Operational Department of Sea Routes, the Black Sea General Shipping Agency INFLOT, and the Southern Research and Design Institute of Marine Sea Fleet”. The exclusion of said enterprises from the list of state property objects should improve the quality of management and restructure of core assets, which can result in attraction of investors. The document also enables the management of the enterprises to take measures on improvement of said companies’ financial performance.

Moreover, the bill provides for the temporary protection of the above mentioned companies from alienation of their property, obtainment of their property through non privatization procedures, and bankruptcy. It should be noted that excluding the enterprises from the list does not mean that they are no longer state-owned.